Plus   Neg

Este Lauder To Increase Investment In DECIEM - Quick Facts

The Este Lauder Companies Inc. (EL) has agreed to increase its investment in the Canadian-based multi-brand company, DECIEM Beauty Group, from approximately 29% to approximately 76%. Also, the company has agreed to purchase the remaining interests after a three-year period.

The amount to be paid by Este Lauder at closing is approximately $1.0 billion, reflecting a total enterprise value of approximately $2.2 billion for the first phase. Upon closing the first phase, Este Lauder expects to have a non-cash gain on its initial investment. Este Lauder noted that, excluding this gain, DECIEM's net sales and earnings are expected to have a negligible impact on the company's fiscal 2021 results.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT